Standard & Poor's Ratings Services raised to 'CCC+' from 'CCC' its long-term counterparty credit ratings on four systemic Greek banks. The outlook on all four rated banks is stable. S&P's assessment concerns Alpha, Piraeus, Eurobank and NBG and a run they had in the markets, resulting in their successful recapitalization.

S&P considers that although Greek banks still face very high economic risks, the Greek economy is continuing to stabilize and Greek banks΄ creditworthiness has improved. The stable outlook reflects S&P’s opinion that the HFSF will be willing and able to provide sufficient capital support to the banks to meet their minimum regulatory capital requirements.